Title
Approval of an Ordinance Adopting the 2018 Operating Budget
Recommended Action
Committee Recommendation:
The Finance Committee has reviewed various parts of the budget throughout the year.
City Manager Recommendation:
Move to approve the ordinance adopting the 2018 operating budget on second reading.
Report
Issue:
Whether to approve the ordinance adopting the 2018 operating budget on second reading.
Staff Contact:
Dean Walz, Administrative Services Director, 360.753-8465
Presenter(s):
None - Consent Calendar Item
Background and Analysis:
Background and analysis has not changed from first to second reading.
State law requires the City Manager to prepare a balanced operating budget each year. The Council held two public hearings and a study session to review the budget. In addition, the Finance Committee reviewed various aspects of the budget throughout the year.
Since the preliminary 2018 Operating Budget was presented, the following changes were made to the final document.
1. Increase of General Fund Revenues of $537,324. This is a result of updated revenue projections and expenses. This excludes the projected revenues of $2.8 million from the levy lid lift approved by the voters on November 7.
2. Increase of expenses, approved by Council on November 28, in the amount of $537,324.
3. Increase of revenues in addition to the $537,324 of $2.8 million. This is the result of the levy lid lift for Public Safety Levy which was approved by the voters on November 7.
4. Increase of expenses related the Public Safety Levy (see attached)
5. Includes City Council’s direction to implement the Utility Advisory rate recommendation. This resulted in additional revenue for the Waste ReSources Utility of $351,400.
By State law the budget must be adopted no later than December 31.
Neighborhood/Community Interests (if known):
The Council held a public hearing on November 21 to take testimony on the 2018 preliminary Operating Budget.
Options:
1. Approve the Ordinance Adopting the 2018 Operating Budget on second reading.
2. Direct staff to make additional changes to the 2018 Operating Budget.
Financial Impact:
The total 2018 expenditures are $150,016,018.
Attachments:
Ordinance
Budget Balancing Decision